Catalyst Money home loans
Catalyst Money is an online bank that believes in the power of a community. It is a member-owned credit union, which means it runs to profit members. The institution offers a range of home loans, term deposits and direct banking. To be able to apply for their products, you'll need to become a member.
Catalyst began as a financial provider for the staff and families of a number of universities in NSW, but it has since expanded to cater to any member of the public. Catalyst Money also has a number of partnerships with community groups such as Hockey NSW, Football South Coast and the Macarthur Football Association, which enables members of these associations certain extra benefits.
Compare Catalyst Money Home Loans
Home loans offered by Catalyst Money
Below are the home loans offered by Catalyst Money.
Variable home loan
The Variable Home Loan features no annual or ongoing fees to help you own your home quicker. There are a number of discounts available on this type of loan, but these vary depending on the exact amount borrowed.
An offset account with no transaction or account-keeping fees is available on variable loans, while repayments can be made weekly, fortnightly or monthly. A free redraw facility is also available.
Variable Lite Home Loan
The Variable Lite Home Loan is similar to the Variable Home Loan but is designed for those who want to borrow less than $250,000. It features flexible repayment options to let you pay off your loan sooner.
As with most of the other loan types, an access account with no extra fees is available to borrowers.
Fixed Home Loan
These loans allow the borrower to know exactly what they have to repay and stop worrying about changes in interest rates. They allow additional repayments and let you choose flexible repayment options.
There is an access account available with no extra transaction or account-keeping fees involved.
Fixed Lite Home Loan
The Fixed Lite Home Loan is a competitive home loan for those borrowing less than $250,000. It offers options such as a 100% offset account, and terms between 1 - 5 years.
Pros and cons of Catalyst Money home loans
- Choice. Catalyst Money offers a larger number of home loan packages than many other credit unions, which means there are options for a wide range of borrowers.
- Discounts. Catalyst Money regularly offers discounts on interest rates as well as introductory deals. These are worth checking when comparing different home loan providers as some good deals could be available to the astute borrower.
- Predominately online. More branch locations around Australia could benefit potential Catalyst Money customers.
How to apply for a Catalyst Money home loan
Applications are only processed for borrowers who are Australian citizens or permanent residents and over 18 years old. If you would like to apply for a Catalyst Money home loan, please consult a mortgage broker.
Additional information about your current salary, assets, investments, and liabilities will also need to be provided before you can be approved for a loan.
Shop around when looking for the perfect home loan, and compare Catalyst Money's many loan offerings with similar products from other lenders. This will ensure you end up with the best deal.
Home Loan OffersImportant Information*
A competitive interest rate home loan with interest only options. Interest rate 3.64%p.a.
comp rate of 3.66%p.a.
UBank UHomeLoan Variable Rate - Discount Offer for Owner Occupied Variable P&I Rate — borrowing $700,000 or more
Pay no application or ongoing fees and get access to a redraw facility and flexible repayment schedule. Get $1,000 cash into a USaver account when you apply for a loan of $200,000 or more. Terms and conditions apply.
Loans over $150k get a discount off an already low fixed rate. Available for NSW, Qld and ACT residents only.
Ask an Expert